Packaged water maker Hielo Beverages will foray in the mineral and sparkling water and nectar-based fruit juices under the brand name Peaur.
There is high-potential demand for premium, specialised water. Sector growth is being fuelled by awareness, health consciousness and distribution penetration.
The brand will seed the market in phases and compete with leading players in the premium specialised packaged water category such as Bisleri’s Vedica and Tata’s Himalayan.
Research Euromonitor has forecasted that in the period between 2016-21, while bottled water will grow 19.8 per cent by volume, it will grow 6.8 per cent for carbonated drinks.
In terms of value too, bottled water will grow 16.5 per cent, which is more than three times that of carbonates which are estimated to grow 4.2 per cent between 2016-21. Bottled water, however, is much smaller in absolute terms.
The unavailability of clean drinking water, especially away from home, will continue to be a major growth driver during the forecast period. Growing health awareness and the rising risk of waterborne diseases will also encourage growth in bottled water sales.